Binance stablecoin liquidity is showing its first clear short-term cooling phase since mid-April, with USDT and USDC reserves falling by roughly $1.5 billion.

The move comes around the latest Fed-related macro update, after the Federal Reserve kept rates unchanged at 3.50%–3.75% on April 29. At the same time, Jerome Powell said he would remain on the Federal Reserve Board as a governor after his chairmanship ends, keeping macro attention elevated across risk assets.

Binance’s USDT reserve declined from around $40.3 billion on April 18 to about $39.6 billion today, a drop of roughly $700 million.

USDC reserves also fell from around $7.6 billion to $6.8 billion, marking an additional decline of roughly $800 million.

Together, Binance’s USDT and USDC reserves have fallen by about $1.5 billion since April 18.

The decline may reflect profit-taking after the recent market rebound, capital rotation, or a more cautious stance from investors who are temporarily reducing exposure to crypto assets after the latest macro update.

For Bitcoin and the broader crypto market, this creates a more cautious short-term setup.

A renewed rise in USDT and USDC reserves would suggest fresh buying power returning to Binance.

Written by Amr Taha